Please feel free to contact me regarding down payer assistance programs such as FHLB. I will explain the program and pre approve you for the grant and the loan in general. The good news is FHLBank Atlanta will begin accepting new applications on Monday, January 7, 2013.
This is the earliest that the money has been available for this program. Please feel free to contact me for further details. Hope this was helpful and please let me know any questions.
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states
I don't see that anyone has mentioned the 100% financing program that is available in Montgomery County. Many of my clients who started with FHA, ended up using this program.
You make under the maximum Income allowed, and you have sufficient credit scores... to qualify for the program.
If you have no debts (credit cards, car payments, etc..) you probably qualify for up to a $1,500 total monthly payment.
If you give me a call, I'll be happy to run the numbers for you and give you more details about the program. I also wrote about it here;
Best of luck,
Everyone has given you great advice and I agree that you should first talk to a reputable lender. You have already started the legwork upfront with the homeowner class, so the only thing left is to get pre-approved for a loan before you start shopping for a home. That will help you stay within your budget and monthly payment target.
There are a lot of lenders in this area and I would be happy to send you a few names of reputable lenders who work specifically with first-time home buyers. They have a proven track-record and can advise you on the best program for your needs. There are also specific lenders who have grant money available to help you with the costs associated with the purchase. I would be happy to help you in this first step.
RE/MAX Realty Group
Raya Sella; realtor
Long & Foster Real Estate, Inc.
189 Kentlands Blvd
I look forward to hearing from you.
The Myers Team
Re/Max Realty Services
Where do you currently work? If you want to be closer to work that would determine if you want Germantown or Gaithersburg and which side of 270 would work best for your commute. Also, Germantown will be cheaper than Gaithersburg. Are you looking for a deal to then do some updating to the house?
Once you are pre-approved and are comfortable with the payment amount then you will be able to start looking at homes that meet the criteria you are looking for in a home. Normally it takes 30-45 days from the time an offer is ratified to settlement, depending on the loan program.
I would be happy to assist you in looking for a home and recommending lenders, if you don't already have a lender or realtor.
Please feel free to call, text or email if you would like further assistance.
The Banner Team
Long & Foster Realtors
I look forward to connecting for all your real estate needs.